Jensen Huang steps down and Nvidia sell-off continues

Shares of Nvidia, the chipmaker at the center of the global artificial intelligence boom, tumbled Thursday with the sudden departure of CEO Jensen Huang following revelations of an affair with a woman reported to be a suspected Chinese spy. The company s stock has been under pressure for weeks, both because of reporting about the affair and questions about a potential bubble in the AI sector. Shares fell 5% in afternoon trading, more than 30% below the company s all-time high reached just over a month ago. The New York Times reported Wednesday that Huang had a second affair with an Nvidia executive who reports to him. “The old Jensen, the black leather jacket, the Godfather of AI, the rock star viewed as the face of the AI boom, is over and in the past; his value to the company pre and post this week is dramatically different, and the board did what we said it needed to do, which is rip off the band-aid and take Nvidia into its next chapter without him after this dark mom